The yellow metal's price continued to surge on Monday, as a second attempt to pass the 1,820.00 level succeeded.
By the middle of Tuesday's GMT trading hours, the price had almost reached the 1,830.00 level.
Economic Calendar Analysis
On Thursday, the US Unemployment Claims data is set to be published at 12:30 GMT.
On Friday, the US Manufacturing and Service PMIs survey results are going to be released at 13:45 GMT.
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XAU/USD short-term forecast
From the one hand, it is likely that some upside potential could prevail in the market, and the price for gold could target the 1,830.00/1,835.00 range.
Meanwhile, it is unlikely that bears could prevail in the market, and the price for gold could decline below the 1,810.00 area due to the support formed by the 55-, 100– and 200-hour SMAs.
Hourly Chart
On the daily candle chart, gold was testing the resistance of the trend line of the 2019 and 2020 high levels.
Daily Candle Chart
Traders set up sell orders
Since Monday, on the Swiss Foreign Exchange the sentiment was bearish, as of total open position volume 60% was short.
Meanwhile, on Tuesday, in the 1000-pip range around the metal's price the orders were 56% to sell.
The orders were 65% to buy on Monday.